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- LoopNet Team
38 Acres Orchard Rd
North Aurora, IL 60542
Multifamily/Commercial Land · Land For Sale
·
38.13 AC
INVESTMENT HIGHLIGHTS
- +/- 38 AC development land in North Aurora, which is 37 miles west of downtown Chicago
- Full-access signalized 4-way lighted intersection at Orchard Rd
- Strong retail corridor: area retailers include Super Target, JC Penney, Woodman’s, Home Depot, Best Buy, Michael’s, Petco, La-Z-Boy, Office Depot, etc
- Annexed and zoned B2/R4. R4 (11-15 units/acre apartments or 5 units/acre townhomes or other such as a retirement center
- All utilities are available: water, sewage, electricity, fiber, etc.
- Rental apartments and big box retailers are the highest and best use; other uses are welcome
PROPERTY FACTS
DESCRIPTION
The subject property presents a unique development opportunity for either commercial or residential developer. It is already annexed to the Village of North Aurora and zoned B-2/R-4 Mixed Use Planned Unit Development. B-2 zoning allows most commercial uses and R-4 allows high-density multi-family residential. Per the annexation agreement, the entire property can be developed as commercial, or the property can be developed as a mix of residential and commercial. Full-access signalized intersection planned for the property at Orchard Rd. The surrounding suburbs are running out of developable land and many subdivisions, complexes and commercial dwellings are at full capacity with little to no inventory. Suburban style walk-up rental apartments and townhomes would be the highest and best use for the site which will maximize the value of the residential portion of the land. The site enjoys business friendly community with low Kane County real estate taxes. The village will welcome big box retail developers offering variety tax incentives.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $18,213 | Total Assessment | $18,213 |
PROPERTY TAXES
